It is announced that Belle Group, which is one of the largest retailers of ladies shoes, has purchased Senda Group at 1.6 billion yuan ($20.51 million), said sources today.

The Jiangsu Province based Senda Group is a manufacturer of men shoes. Experts anticipate, this take over would have a big effect on Chinese shoes industry.

An official from Belle Group expressed that this purchase would generate higher revenue for the company as well as increase their share in the global shoes markets.

According to statistics, Belle Group enjoyed only 8.2 percent of the women shoes market share in China in 2006 and it is one of the biggest seller of Nike and Adidas in China.